---
schema_version: "secwatch.filing_event.v1"
accession: "0001213900-24-018355"
form_type: "8-K"
ticker: "ZDPY"
cik: "0001279620"
company_name: "Zoned Properties, Inc."
filed_at: "2024-02-29T23:59:59+00:00"
generated_at: "2026-06-05T06:14:52.875240+00:00"
event_type: "other_material"
sentiment: "positive"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# Zoned Properties to acquire Surprise, AZ property for ~$1.75M, lease with Sunday Goods at 12.7% cap rate

## Summary
- Total investment of ~$1.75M includes purchase price, closing costs, and seller improvements; $1.0M tenant improvement allowance for Sunday Goods.
- Absolute net lease with 15-year term, 3% annual rent increases, yielding ~$372k annual base rent (12.7% cap rate straight-lined).
- Final cannabis approvals received from City of Surprise for retail dispensary operation.
- Arizona cannabis market strong, over $1.2B sales in 2023; Surprise ranked top for young homebuyers.

## SEC filing metadata
- accession: 0001213900-24-018355
- form_type: 8-K
- ticker: ZDPY
- cik: 0001279620
- company_name: Zoned Properties, Inc.
- filed_at: 2024-02-29T23:59:59+00:00
- event_type: other_material
- sentiment: positive
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 1.01, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1279620/000121390024018355/0001213900-24-018355-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1279620/000121390024018355/ea0200886-8k_zonedpro.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001213900-24-018355
- JSON: https://secwatch.observer/filing/0001213900-24-018355.json
- Plain text: https://secwatch.observer/filing/0001213900-24-018355.txt

## Key facts
- Material Agreements
  Zoned Properties, Inc. entered into Licensed Cannabis Facility Absolute Net Lease Agreement with The Pharm, LLC (Sunday Goods) valued at 15-year term with four 5-year renewal options; base rent $25,000 per month initial escalating to $37 (effective 2024-01-02).
  - Action: entry
  - Agreement: lease
  - Counterparty: The Pharm, LLC (Sunday Goods)
  - Value: 15-year term with four 5-year renewal options; base rent $25,000 per month initial escalating to $37
  - Effective: 2024-01-02
  source text: On January 2, 2024, ZP Holdings entered into a contingent Licensed Cannabis Facility Absolute Net Lease Agreement (the “Sunday Goods Lease”), with a commencement date contingent upon the satisfaction of various contingencies to the Sunday Goods Lease, by and between ZP Holdings, as landlord, and The Pharm, LLC (“Sunday Goods”), as tenant.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1279620/000121390024018355/0001213900-24-018355-index.htm
- Material Agreements
  Zoned Properties, Inc. entered into Purchase and Sale Agreement and Joint Escrow Instructions with NWC Dysart & Bell LLC valued at Purchase price $1,100,000; seller's work reimbursements up to $600,000; earnest money $97,500 (effective 2023-01-23).
  - Action: entry
  - Agreement: asset purchase
  - Counterparty: NWC Dysart & Bell LLC
  - Value: Purchase price $1,100,000; seller's work reimbursements up to $600,000; earnest money $97,500
  - Effective: 2023-01-23
  source text: Previously, on January 23, 2023, ZP Holdings entered into a Purchase and Sale Agreement and Joint Escrow Instructions, by and between NWC Dysart & Bell LLC (the “Seller”) and ZP Holdings as the buyer.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1279620/000121390024018355/0001213900-24-018355-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.